By Patrick J. Buchanan Last year, Barack Obama committed his administration to doubling U.S. exports in half a decade. The good news: He is on the way. U.S. exports of goods and services grew in 2010 by 16.6 percent. Bad news: U.S. imports, starting from a higher base, surged by 19.7 percent.
The majority of Americans say the United States has lost its position of being the world's strongest economy by allowing its manufacturing base to whither and shift offshore. They want the federal government to focus on creating a national manufacturing strategy that leads to more jobs and a rebirth of manufacturing.
By Ian Fletcher I'm going to ask the reader to forgive the somewhat personal nature of this post, as personal experiences are sometimes revealing about larger issues. Earlier this year, I was excited to organizing a debate, under the auspices of the San Diego World Trade Center and held on the campus of California State University, San Marcos, on the wisdom of free trade as a policy for the U.S. My opponent was going to be the respected Dan Griswold of the libertarian Cato Institute.
by Tim O’Brien Courtesy of Daily Kos The changes going on in our nation and state have been so rapid and devastating that many people, including most elected officials, are in a mode merely to cope with and get through the immediate problems in front of us. But, especially in our present crisis, those immediate problems are not going to truly get better unless we confront the real reasons for our present crisis and the solutions that are needed to build a better future. It needs to be said. The real problem is outsourcing. The real reason that our economy is in a shambles and, thus, causing the revenue problems for our federal, state and municipal governments, is that Wall Street and the big corporations they run have been undercutting the paychecks of middle class American families by outsourcing to low-wage places in the world.
The lead line in the Manufacturing & Technology News article about General Electric CEO Jeffrey Immelt -- "A downturn in the U.S. economy shouldn't hurt General Electric" -- raises questions about the destruction of the United States economy and the dark side of globalization. It suggests that the decades-old concept of what is good for the country's leading companies is good for the nation is dead. The mutually beneficial relationship between companies and the American society is gone.
American consumers have no idea that the majority of the over-the-counter drugs they buy come from China, where there are few regulations. The increasing dependence on China for active pharmaceutical ingredients and nutritional supplements is of growing concern. China is the world's largest manufacturer of bulk drugs and nutritional supplements and is now exporting a large portion of its production to the United States.
By Arthur Stamoulis The biggest “free trade” agreement since NAFTA is about to hit the floor of Congress. On February 9, U.S. Trade Representative Ron Kirk testified before the House Ways & Means Committee that the White House will be submitting the Korea Free Trade Agreement for a vote within the next few weeks. The Korea FTA was negotiated and signed in 2007, but President Bush was never able to get it through Congress. President Obama campaigned against it during his bid for the White House, but recently dusted it off and has been running with it as his own. This despite the fact that even the federal government’s own International Trade Commission (ITC) predicts that the Korea FTA will increase the overall U.S. trade deficit — meaning more job loss at a time when the country can least afford it.
Washington — Teamsters General President Jim Hoffa, in a break from the Obama administration and the United Auto Workers union, opposes the Korea Free Trade Agreement. The administration plans to formally submit the revised agreement to Congress in the coming weeks. "Though the revised agreement is much improved, it still falls short," Hoffa said in a statement today. "After careful review and discussion, we have concluded we cannot support this trade agreement."
Technological breakthroughs with the potential to create millions of jobs are stuck in bureaucratic hell - a backlog of 1.2 million patent applications yet to be reviewed. "Hundreds of thousands of groundbreaking innovations are sitting on the shelf literally waiting to be examined," says Patent Office chief David Kappos. And how many jobs are left unborn with them? "Millions," said Kappos. "Millions of jobs." This stunning revelation is contained in a memo to the President from a high-tech entrepreneur with a 35-year $8 billion record of creating wealth and jobs. His other advice to our chief executive: the biggest job killer is the systematic offshoring of our high-tech manufacturing. Read the whole memo.
The nation’s biggest labor and business groups came together on Wednesday to urge Congress to find a new source of funding for infrastructure projects, possibly through an increase to the gas tax. AFL-CIO President Richard Trumka and U.S. Chamber of Commerce President Thomas Donohue joked about their unlikely partnership but said they are serious about finding a way to provide long-term funding for the nation’s highways, bridges, railways and ports.